Function of accounting And Objective of accounting is same question?

Hello

No it's not the same thing,

Accounting is basically the systematic process of handling all the financial transactions and business records. In other words, Accounting is a bookkeeping process that records transactions,  keeps financial records, performs auditing etc.

To move ahead to the functions of accounting, first of all, it is very important to know about the role of accounting. The basic role of accounting is to provide relevant financial information to the businessmen and the stakeholders.

• Historical Functions

Historical functioning of accounting involves keeping the accurate records of all the past transactions made in the business.

• Managerial Functions

In an organization, the management committee looks for all kind of the decision making.

The functions of accounting facilitate the objectives of accounting. there are many objectives of accounting. For instance,

1. Accounting facilitates the systematic management of the records of the transaction and other financial data.
2. It gives an idea about the chances of profitability or failure or losses.
3. The process assists the management by helping them to take the best decisions. besides that, accounting ascertains the financial position of an organization.

Hello Bhupen Biswas

No, both function of accounting and objectives of accounting are different.

Accounting

Accounting is basically the systematic process of handling all the financial transactions and business records. In other words, Accounting is a bookkeeping process that records transactions,  keeps financial records, performs auditing etc. It is a platform that helps through many processes, for example, identifying, recording, measuring and provides other financial information.

Accounting is a very important procedure and holds great importance in people’s lives. Accounting aids to a lot of financial procedures and analytics taking place every day. There are specific people for doing this job and they are known as accountants. As said earlier, accounting is the very important process and in addition, holds a lot of objectives and functions.

Functions of Accounting

To move ahead to the functions of accounting, first of all, it is very important to know about the role of accounting. The basic role of accounting is to provide relevant financial information to the businessmen and the stakeholders. Furthermore, facilitating the decision making processes and keeping them updated. There are two types of functions of accounting, first, historical functioning and second, managerial functionals.

Regards